Summary
- Michael Saylor said Bitcoin (BTC) may have found a bottom near $60,000.
- He said ETF inflows are absorbing daily selling volume, while corporate Bitcoin treasury adoption is limiting selling pressure.
- He also said trend reversals are driven more by capital structure and liquidity shifts, and that changes in market structure could affect price action.
Forecast Trend Report by Period
Michael Saylor, founder of Strategy, said Bitcoin may have found a bottom near $60,000, citing easing selling pressure and the structure of capital inflows.
Saylor told an event that Bitcoin bottoms are determined more by the exhaustion of selling than by valuation, CoinDesk reported on April 8.
He said inflows into exchange-traded funds are absorbing daily selling volume. Selling pressure is also being limited as more companies add Bitcoin to their corporate treasuries.
Trend reversals are driven more by changes in capital structure and liquidity than by investor sentiment, he added. That suggests shifts in market structure could influence price action.
Saylor also addressed the threat of quantum computing, saying the risk remains theoretical and can be managed technologically.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
